Chinese trade balance data has missed widely as expectations for February were a net positive for the export section with a surplus of 173B Yuan. Rather than an increase, changes were a negative 60B. The release data showed disappointing results for the second largest economy with exports only 4.2% on a yearly basis versus the expected 14.6%. Imports have increased with 44.7% on a yearly basis when only 23.1% was the expected level for this report. Despite this, the net result is still a surplus of 293.7bn CNY for the economy on a yearly basis thus far.

Strong euro bullish sentiment in the option market, falling inflation expectations, renewed rout in global equities and the extended slump in oil prices may force the European Central Bank's president Mario Draghi to deliver a more dovish-than-expected message at the ECB policy meeting this week, Bloomberg strategists Vassilis Karamanis and Richard Jones write.

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